Every driver needs car insurance, regardless of the motor vehicle they are driving. If you are the owner of a sports car, you will need car insurance just like everybody else, if not more so! Sports cars are expensive, and if you have an accident you will have to pay out a lot of money for repairs or a replacement.
When you purchase your sports car, you need to approach the insurance company of your choice immediately. Prior to your decision on which insurance company to go with, you must obtain a few comparative quotes. With a few quotes in hand, you will make a more informed decision. Remember that the cheapest quote is not necessarily the best one. You need to look for value for money in your policy. Requesting a higher excess will secure you a lower premium, and vice versa. Although you will need to ensure that you can afford the cost of the excess if you decide to make it high. It is a good idea to keep aside a small savings account, for emergencies such as these. Where a sports car is involved, you know you are going to pay a lot of money on even the smallest repairs. In some cases, your insurance company may not cover the repairs for certain damages.
You can't run away from the fact that you are going to pay a bit more for your premium for a sports car than other people would with a normal motor vehicle. The point is that sports cars usually move faster than other vehicles, making them more dangerous on the roads. Statistically, speed is one of the leading causes of motor vehicle collisions. Therefore, if you have a car that is capable of going very fast, the insurance companies will have to stick it with a higher premium tag. Furthermore, you have to also remember that sports cars are favoured by thieves. The parts are sold for a lot of money, making them popular theft targets. This also contributes to the higher premium.
In order to keep your premium as low as possible, you need to ensure that you lower your car's risk profile. A lot of sports car owners are enticed to modify their vehicles to look better or go faster, but this is bad for the insurance premium. A modified or enhanced vehicle will have a higher premium because it is faster and therefore more likely to be badly damaged in an accident. Furthermore, modified and enhanced vehicles are higher theft risks too. If you DO modify your vehicle, you need to inform your insurance company immediately. If you have an accident and they find that you did not inform them of modifications on your vehicle, they may not have to pay out. The best thing you can do with regards to your theft risk is to install a top of the line security system in your vehicle. A good alarm system, immobiliser and tracking device should help substantially lower your premium.
There are many benefits to being a sports car driver, and by all means, enjoy your motor vehicle to the fullest. Always remember to be safe, and adhere to the road rules to prevent being in a collision.
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For more information on the best pay as you drive car insurance in South Africa visit http://www.payasyoudrive.co.za .
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